Southern Copper Co. (NYSE:SCCO) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC trimmed its holdings in Southern Copper Co. (NYSE:SCCO) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,317 shares of the basic materials company’s stock after selling 254 shares during the period. Symmetry Partners LLC’s holdings in Southern Copper were worth $896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. DNB Asset Management AS grew its stake in shares of Southern Copper by 3.2% during the 2nd quarter. DNB Asset Management AS now owns 19,936 shares of the basic materials company’s stock valued at $2,148,000 after buying an additional 612 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Southern Copper by 27.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the basic materials company’s stock valued at $159,000 after buying an additional 291 shares during the period. Cetera Advisors LLC lifted its position in Southern Copper by 62.2% during the first quarter. Cetera Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $604,000 after buying an additional 2,174 shares in the last quarter. Cetera Investment Advisers grew its stake in Southern Copper by 395.1% during the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 30,966 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Southern Copper in the first quarter worth $554,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SCCO shares. CICC Research assumed coverage on shares of Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating on the stock. Scotiabank reduced their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research note on Monday, April 22nd. UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Finally, StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average target price of $89.57.

Southern Copper Stock Performance

SCCO stock traded down $1.30 during mid-day trading on Friday, reaching $99.13. The company had a trading volume of 389,627 shares, compared to its average volume of 1,194,445. The stock’s 50-day simple moving average is $108.43 and its two-hundred day simple moving average is $103.53. The stock has a market capitalization of $77.44 billion, a P/E ratio of 33.37, a P/E/G ratio of 1.04 and a beta of 1.20. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, August 9th. Southern Copper’s payout ratio is 79.73%.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.